Syndicate | Practical Law

Syndicate | Practical Law

Syndicate

Syndicate

Practical Law Glossary Item 6-382-3860 (Approx. 2 pages)

Glossary

Syndicate

This term has a number of meanings. In the context of:
  • Finance, a group of lenders that collectively make a loan to a borrower, with each lender in the syndicate being severally liable to fund only its pro rata share of the loan. A single agent bank administers the loan on behalf of the lenders. When used as a verb, "to syndicate" means the process of selling portions of the loan (or allocating the commitments) to syndicate members (see syndication).
  • Securities and capital markets, a group of underwriters selected by the managing underwriters to market and sell shares in a registered public offering.